Arshad Ajmal - COO

A social activist by profession, Arshad Ajmal currently holds the position of COO (Chief Operating Officer) of Sahulat Microfinance Society. Sahulat Microfinance Society works for the facilitation of interest free microfinance through Cooperatives.

He is credited with the development of a model of interest free finance through cooperatives and pioneered the establishment of interest free cooperative in Bihar.


1.    Ajmal, Arshad. 2013, Regulatory Framework for Islamic Microfinance in India, at International Workshop on Zakat, Waqf and Islamic Microfinance organized jointly by the Bogor Agricultural University (IPB), Indonesia and Islamic Research and Training Institute (IRTI), Islamic Development Bank on 29-30 April 2013 in Bogor, Indonesia. 

2. “An Analysis of concerns and issues arising out of Multi State Cooperative Societies (Amendment) Bill, 2010, Sahulat Journal of Interest Free Microfinance, December, 2012 Vol.1; No.2 

3.    Interest Free Microfinance in India: Exploring Cooperative Model Option, October 4-6, 2010 at International Seminar organized by Islamic Development Bank, Jeddah at Cochin, India

 4.    Al-Khair Cooperative Credit Society Ltd.: An experiment in providing interest free microcredit in cooperative format, 18-19 February, 2006 at International Seminar on Justice and Equity: the meaning of Islamic Banking, New Delhi, India.

Sahulat - The Bridge of Hopes

"In a world where a dollar is needed to catch a dollar, everyone deserves a helping hand to lift themselves up"

Muhammad Yunus, Nobel Prize Winner 2006